Summit lowest bidder for Bibiyana-II power plant
Friday, 5 November 2010
FE Report
The country's largest power conglomerate Summit has also become the lowest bidder for Bibiyana (phase-II) 300-450 megawatt (mw) gas fired combined cycle power project to bag three big power plants in a row, officials said Thursday.
Earlier, the power giant became the lowest bidder for Bibiyana 300-450 mw gas fired combined cycle power project and Meghnaghhat 300-450 megawatt dual fuel combined cycle power plant.
State-owned Bangladesh Power Development Board (BPDB) opened the technical and financial offer for Bibiyana (phase-II) at its headquarters Thursday.
"The bidding was competitive and the tariff was reasonable," said a PDB official.
Summit has offered a levelised tariff rate of 3.99 US cents per unit (1 kilowatt-hour) to emerge the lowest bidder, while its nearest competitor, the Indian GMR Holdings Private Ltd. & GMR Projects Private Limited, offered 4.93 US cents.
With Bibiyana (phase-II), Summit is now eligible to get contracts within a month for three major power plant projects worth over US$ 1.0 billion to generate around 1,350 mw of electricity.
Summit Industrial and Mercantile Corporation (Pvt) Ltd and its partner GE Energy LLC, USA will build the power plant project after signing the deals.
Twelve firms and their joint ventures from home and abroad including YTL Power International Berhad of Malaysia, Contour Global of USA, Consortium of ERM Power Pty Limited, Australia & local Shasha Denims, Contour Global of USA, International Power PLC of Singapore were primarily selected to build the Bibiyana (phase-II) power plant.
Bibiyana (phase-II) power plants will be implemented on build, own and operate (BOO) basis pursuant to a 22-year implementation agreement.
The government will provide land and required quantity of gas to the selected sponsors for generating electricity.
It will also purchase electricity from the sponsors at the offered rates.
"We will be able to implement all the three big power plant projects like the way Bangladesh has beaten New Zealand," Summit Power Chairman Muhammed Aziz Khan told the FE.
The Summit Chairman was confident about implementation of all the projects on schedule with support from the multilateral donor agencies, capital market and commercial banks.
"We have already appointed one of the finest engineering company Lahmayer International as our consultant to help implement the power projects," he said.
Sources said Summit Power would have significant stakes in all the three big power plant projects.
With all the three big power plant projects Summit would become the single largest power producing company among all local and foreign power companies operating in Bangladesh.
Country's total electricity generation is now hovering around 4,000 mw against the demand for over 6,000 mw.
The government plans to augment electricity generation by around 11,500 mw within 2015.
The country's largest power conglomerate Summit has also become the lowest bidder for Bibiyana (phase-II) 300-450 megawatt (mw) gas fired combined cycle power project to bag three big power plants in a row, officials said Thursday.
Earlier, the power giant became the lowest bidder for Bibiyana 300-450 mw gas fired combined cycle power project and Meghnaghhat 300-450 megawatt dual fuel combined cycle power plant.
State-owned Bangladesh Power Development Board (BPDB) opened the technical and financial offer for Bibiyana (phase-II) at its headquarters Thursday.
"The bidding was competitive and the tariff was reasonable," said a PDB official.
Summit has offered a levelised tariff rate of 3.99 US cents per unit (1 kilowatt-hour) to emerge the lowest bidder, while its nearest competitor, the Indian GMR Holdings Private Ltd. & GMR Projects Private Limited, offered 4.93 US cents.
With Bibiyana (phase-II), Summit is now eligible to get contracts within a month for three major power plant projects worth over US$ 1.0 billion to generate around 1,350 mw of electricity.
Summit Industrial and Mercantile Corporation (Pvt) Ltd and its partner GE Energy LLC, USA will build the power plant project after signing the deals.
Twelve firms and their joint ventures from home and abroad including YTL Power International Berhad of Malaysia, Contour Global of USA, Consortium of ERM Power Pty Limited, Australia & local Shasha Denims, Contour Global of USA, International Power PLC of Singapore were primarily selected to build the Bibiyana (phase-II) power plant.
Bibiyana (phase-II) power plants will be implemented on build, own and operate (BOO) basis pursuant to a 22-year implementation agreement.
The government will provide land and required quantity of gas to the selected sponsors for generating electricity.
It will also purchase electricity from the sponsors at the offered rates.
"We will be able to implement all the three big power plant projects like the way Bangladesh has beaten New Zealand," Summit Power Chairman Muhammed Aziz Khan told the FE.
The Summit Chairman was confident about implementation of all the projects on schedule with support from the multilateral donor agencies, capital market and commercial banks.
"We have already appointed one of the finest engineering company Lahmayer International as our consultant to help implement the power projects," he said.
Sources said Summit Power would have significant stakes in all the three big power plant projects.
With all the three big power plant projects Summit would become the single largest power producing company among all local and foreign power companies operating in Bangladesh.
Country's total electricity generation is now hovering around 4,000 mw against the demand for over 6,000 mw.
The government plans to augment electricity generation by around 11,500 mw within 2015.